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CNN
Dec 31, 2012 11:00am PST
our deficit problems in a balanced and responsible way that doesn't just deal with the taxes, but deals with the spending in a balanced way, so that we can put all this behind us focusing on growing our economy. but with this congress, that was obviously a little too much to hope for at this time. >> let's turn now to chief white house correspondent jessica yellin. let's talk a little bit about the outlines of the deal, the fact that the president came out to make his case and try to push this thing over the finish line. what does the white house have to do to gain the backing it needs. >> reporter: well, what we heard from the president today just now was really an emphasis that there are a lot of components here for democrats to like because their focus especially is on making sure that -- because i should say democrats really need to come out in force for this to get across the finish line. what you asked is also what is in this measure. tax increase or taxes to -- would go back to the clinton levels for people who make $400,000 a year, or households that make $450,000 a y
MSNBC
Dec 30, 2012 9:00am PST
't seen the deficit reduction that we could have had, the republicans willing to take a deal that i give them. if they say that people's taxes have gone up, which means consumer spending is depressed, then it's going to have an adverse reaction in the markets. >> there was much more to what the president had to say. listen to what he had to say on deficits and spending. >> you are not only going to cut your way to prosperity. one of the fallacies, i think, that has been promoted is this notion that deficit reduction is only a matter of cutting programs that are really important to seniors, students and so forth. that has to be part of the mix. but, what i ran on and what the american people elected me to do is put forward a balances approached. >> i want you to listen to something else. the president spoke about the tragedy in newtown, connecticut. he described it in a way he's not quite done so publicly before. listen to this. >> this is something that, you know, that was the worst day of my presidency. it's not something that i want to see repeated. >> it hit close to home? >> absolute
CNN
Dec 30, 2012 3:00pm PST
not been solved, that we haven't seen the kind of deficit reduction that we could have had, had the republicans been willing to take the deal they gave them, and if they say that people's taxes have gone up which means consumer spending will go down. >> and keep in mind that the senate is the first hurdle. any deal has to pass the house. we are not into the senate yet and the republican speaker john boehner plablamed the crisis one president saying he the one who has never found a way to say yes. >> so you are in new york and i'm in atlanta, and we get to washington now, because the senior congressional correspondent dana bash is closely following the negotiations from capitol hill, and dana, you have been there and talking to people, and where are we on this? >> well, the senate majority leader harry reid was on the floor moments ago saying that the senate will reconvene at 11:00 a.m. tomorrow. the senate will reconvene tomorrow at 11:00 tomorrow, and that means no senate votes tonight which is not good news for everybody looking at the calendar and looking at the watch at this
FOX News
Dec 30, 2012 9:00am PST
the deficit, not new government spending. shannon? >> how confident are the "cook's essentialsal" democrats about the ability to get this done? >> reporter: congressional democrats do not sound over confident. they recognize this is a heavy lift between the top two senators in the next couple of hours. but a leading new york democrat sounded cautiously optimistic. >> there is certainly no breakthroughs yet between senator mcconnell and senator reid. but there is a real possibility of a deal. i have been a legislator for 37 years. and i have watched how these things work. they almost always happen at the last minute. >> reporter: we are getting down to the left minute. the threshold for extending the bush tax cuts. president obama campaigned campn capping it at $250,000, raising taxes on those who earn more than $250k, but some of the discussion and it is buzz around capitol hill has been about perhaps going to the $400,000 mark. the question is, will you get enough republicans to buy in if that is the deal? shannon? >> thanks to mike on capitol hill. we will continue to check in. now to ed
FOX News
Dec 28, 2012 8:00am PST
, we, republican are not trying to solve the fiscal cliff. we're trying to solve the debt and deficit. can you explain that? >> sure can. yeah, the white house has been very focused on what do we have to do to just get past the fiscal cliff. let's get over this bump and keep spend and keep going. in the house we're actually trying to solve the debt and deficit. let me illustrate this. we have a trillion dollars in deficit spending last four years. president says let's go back to the clinton levels of taxation. if we went back to the clinton levels of taxation we're still double the highest bush era of deficit spending still because spending was accelerated so much in 2009 and 2010. we're trying to bring the spending levels back down. on the contrary if we just brought the spending levels down to the clinton level spending instead of tax level going up to clinton level of tax it is would solve this. we're trying to solve the debt and deficit. we're trying to say how do we get out of debt. the president is saying let's get past the fiscal cliff and let's keep moving on. that doesn't sol
FOX Business
Dec 31, 2012 6:00pm EST
in on monday and pass these tax increases, the president will get what he wants. there will be deficit reduction, and the next president will inherit the kind of situation that today characterizes come by once a greece, too extreme, but i would say italy. holy irresponsible for any republican member of the house of representatives to vote for the package that mitch mcconnell is negotiating on their behalf without their leaders present. it is a ridiculous package. it does not work, and it will solve our long-term debt problems. gerri: i never have to guess at what you think. you are always clear isabela and entertaining. thank you for coming out tonight. have a great new year. >> happy new year. gerri: no votes in the house tonight. meanwhile, we go off the cliff tomorrow. it does not applicable be a happy new year. our political panel place the blame game next. ♪ [hip-hop music] ♪ - ♪ what's wrong with the world, mama ♪ ♪ people livin' like they ain't got no mamas ♪ ♪ i think the whole world's addicted to the drama ♪ ♪ only attracted to the things that'll bring the tr
CNN
Dec 31, 2012 6:00am PST
is making sure that any new revenues go toward debt spending reduction and deficit relief rather than new spending. it's deficits that got us into this problem. it's only reducing the deficit that's will get us out of this problem. >> the key there is it's my best belief that they've reached an agreement on revenues, that means on this issue of raising taxes on the wealthiest americans. this is still a fight over tax rates for wealthy americans at this point. not sure what else is on the table. doctors, see a 27% cut on the pay they get for medicare services, that's a problem. amt. there's a whole host of people that are going to get hit if they don't fix this. >> that's tough all around for everybody. the fact he's saying it's somewhat optimistic is surprising to me. i haven't heard that much optimism, but we'll see how it goes. christine, thank you. we appreciate it. the outlook on wall street might be a little gloomy when the opening bell rings later this hour. but investors elsewhere around the world, they're actually holding steady. britain's ftse index and hong kong's hang seng inde
FOX News
Dec 27, 2012 10:00am PST
, if we want to make a dent in the deficit. i mean this is the choice that is going to be in front of us. if, we have to do four things if we want to reduce the deficit. we have to get more revenue, we have to cut domestic spending, we have to trim and reform the health care programs in particular of medicare and medicaid and we have to cut defense. if we do all four of those things we can make significant down payment getting deficit under control. if we do some of them, the numbers are not there enough to make as much progress as we want. this is where mark and i agree. over next six to nine months we could see substantial progress towards smart fiscal policy in the country if the two parties come together. heather: we'll see what happens. thank you both very much for joining us until monday night. thank you. >> merry christmas. happy new year. [heavy breathing]. gregg: boy, remember that, video from april of 2011. monster tornado tearing through tuscaloosa, alabama, devastating the community and alberta baptist church. ever since then the church's pastor has been fighting insurers and
MSNBC
Dec 24, 2012 6:00am PST
deficit situation. so i don't think this is political at all. the politics ended on election day. the president made his case, he made it very clearly. there is no doubt as to what was at stake in that election and the president was elected overwhelm lig. so the politics are over. now we're trying to govern the country and i think that's, at least in the house. >> congressman, i got to speak with you twice over the last several days. i appreciate your time. >> you, too. >> this video just in from the scene of a fire in the rochester, new york area. it's reported two firefighters were shot after responding to a large fire at 6:00 this morning. they encountered gun fire as they were getting out to the fire and immediately retreated. one firefighter was shot in the buttocks and is reported to be in satisfactory condition. it's believed that three houses and one vehicle are involved in that fire. residents in the area have been asked to stay in their homes away from windows and doors. we'll keep you up to date on that story. >> over the river and through the woods, no matter how you'
MSNBC
Dec 24, 2012 7:00am PST
of the deficit? bring all 3 million of that one weapon back in, let the government, county, state and federal, pay you to take them back. you do don't need them. >>> we have to leave it there. thank you for your time. >>> speaker boehner has said it's up to the senate and the president to come up with a fiscal deal, but as some point out, he'll have to push a bill through the house. given last week's events it won't be easy. "the washington post" columnist e.j. dionne says that may be the silver lining, writing, quote -- now at least we know something important. the current rep majority cannot govern, only a coalition across party lines can get the public's business done. e.j. joins us now, a senior fellow with the brookings institution and an msnbc contributor. e.j., great to see you, as always. john boehner sits to the left of center of his caucus. can he work out a deal without inciting a full-scale revolt? >> well, we don't know that, but i think he'll have to test it. that really tells you something about how conservative the republican caucus has done. john boehner is a good conservativ
FOX News
Dec 26, 2012 10:00am PST
has to be matched with real action, spending cuts and other ways to reduce the deficit, that is exactly the fight we are fashion. he doesn't want to have that. republicans are dying to get into that. >> reporter: do you think the president for political reasons wants to go over the cliff? barrasso said so. look, there are a bunch of others who think so. >> there are certainly some on the left who also, just like conservatives, there are some on the left that do. i don't think the president does. part of the reason, just like i don't believe john boehner actually does the house speaker. there is this group in the middle, first of all they are not sure where the political blame would lie. it could end up on them and they want want to have that happen. second of all these are deal mayors. they came to washington to get deals done. and they see the result, the goal as a deal to get past this rather than looking at the numbers. the folks on each side eve are looking at the numbers and they say the deficit would be in better shape and the economy in the long run is in better
FOX News
Dec 24, 2012 10:00am PST
that he is very interested in deficit reduction and very interested in serious spending cuts. none of whichever materialize. but the class warfare rhetoric is always still there. he is always interested in raising taxes to feed his ever-growing and every ravenous beast of the government. here we are again. when i talk about this is no way to run a superpower, what i mean by that, every single time we get to the press miss and every single time our leaders wait until the exact last minute, i mean one thing to wait for it the last minute to buy christmas gifts for tomorrow. i see plenty of people running around new york city trying to buy gifts. another thing for the president and congress to wait until the last minute on fiscal issues that affect every american, gregg and our long-term fiscal health. gregg: are you saying the president is disingenuous and duplicitous which would be novel in politics? >> and certainly in washington, d.c.. all we have to go on is the president's pattern of behavior. over the last four years it has been the same drill every single time. the republicans
FOX News
Dec 26, 2012 8:00am PST
family would pay 2,000 to $4,000 more in taxes next year. but, if you're a deficit hawk, you might be happy with this news. the congressional budget office estimates that with all of these new tax revenues, plus those mandatory spending cuts kicking in january 1st, that would all cut the deficit in half next year to about $600 billion. kelly? kelly: we would go through this for about half a year. then there's a talk among some people, that we would actually rebound at the end of six months or so. but that is a lot of pain to go through. is there any idea of what could happen to the economy or stock market as a result of congressional inactivity? >> well, yeah. the cb. off and many private economists say that the $600 billion in fiscal tighting, as you say would push the economy into recession next year and send the unemmoment rate to back above 9%. a survey of investment managers found 60% of the them see a drop in the dow industrials of 10% or more if the cliff is not avoided. kelly? kelly: boy, that is very ominous. peter, thank you. hopefully something can be done. peter barnes.
FOX News
Dec 28, 2012 6:00am PST
a little bit more in taxes to help reduce the deficit. it was rejected by his own party, and so then he sent his members home on vacation. i'm over on the senate side right now, they are in session. speaker boehner let the house members go, so first he walked out of the talks with the president, and then he sent everybody home on vacation. obviously we need to have compromise. the senate bill that passed out of the senate many, many weeks ago had compromise. it was passed by republicans and democrats. all we're asking is that speaker boehner hold a vote on that bill. i don't know why he's afraid to even hoet a vote. hold a vote. that is allowing the process to work, allow democrats and republicans in the house to dash. gregg: he said they already voted on a plan to extend all the tax cuts. >> but they had a vote in the senate on that plan and they voted it down, and then on a bipartisan basis they passed another bill. gregg: 0 out of time. thanks for taking a few moments to be with us. it's good to be with you. chris van hollen. patti ann: former president george h.w. bush remains in in
FOX News
Dec 31, 2012 3:00am PST
, massive cut to our military. >> juliet: his thing is, look, we got to start cutting this deficit down. we just got to start now. he said, i stand to lose a lot of money in this, but it's got to happen now. >> dave: he also said republicans should lead on immigration, which i thought was interesting. that also made my eyes go up. >> clayton: he said they're going to continue to lose election after election if they continue to do what they did as it relates to immigration reform. the senate this morning, look at the live look, capitol hill and the white house. the senate reconvenes at 11:00 a.m. this morning. the house is getting together around 9:00 a.m. this morning. again, wendell goler reporting they've been hashing out deals throughout the night. >> dave: if you want good information as it happens, follow chad pergrum on twitter. he works harder than just about anybody in politics. he tweet constantly what's happening on the floor. >> juliet: let's get to some other headlines. fiscal cliff concerns also causing major uncertainty on wall street. investors are bracing for a volatile fina
CSPAN
Dec 28, 2012 8:00pm EST
support it and its effort as everybody knows on the deficit reduction. i'm not sure that anybody really listened, at least they put in the effort. that's apolitical, by the way. so in addition, connie noted it was no surprise to her at the time that based on senator simpson's record in the senate and his bipartisanship work, that he would be chasing to be a cochair of the commission. lastly, i just want to say as we understand, mr. hardy had full access to senator simpson's records, diaries, finance, full access. i will say the senator did mention he's been married 57 years, so anybody that gives full access after 57 years, i think that's pretty impressive. but connie just really wanted to welcome everybody and say we are thrilled to be sponsoring this. [applause] >> nowcome i had the pleasure of introducing what i call the bravest man in the world, dawn hardy, author of the book. i don't you could possibly put all this in one book and decide what to leave in and what to take out at a 70s had senator simpson on msnbc cometh and then ann fox, you change the conversation about politics, c
CSPAN
Dec 28, 2012 11:00pm EST
intermediate deficit problem and implementation of the cost saving measures strengthened over time in the aca will deal with their long-term health care problem. so we are not that far away and we have other tremendous strengths in our country that would allow us to make the kind of investment to transform the economy, to do with the reality of stagnant wages and a sense of diminished opportunities. we have strengths. we can do it. we need the public to rain and behavior that's destructive and we need political leaders to act forcefully. given enough to bipartisan commissions and searched enough for bipartisan consensus. for sensible hard all politics along these lines. >> norm, i particularly cutie take the money question. a couple political had a great shared that showed that party polarization in congress was directly correlated with increasing concentrations of wealth from increasing equality went together artisan polarization. and the money question you can handle so many different ways. i'm really concerned about it posed citizens united system with a federal election commission that's
CNN
Dec 26, 2012 2:00am PST
, realistically can there be a grandiose bill that will attempt to solve our spending, deficit problem, with the overall framework? or talking about a band-aid? >> personally, i don't think we'll get the big plan in the next six days. it would be great if we could. >> the whole enchilada. but at least if we can get an appetizer -- no, seriously. if we can get assurance that realistic work is being done to provide tax relief, regulatory relief. the two big laws passed previously in 2010. affordable care act, well intentioned, very costly and those are posing problems too. >> earlier this week, we spoke with grover norquist. you signed the pledge not to sign taxes. >> i did. >> he supported speaker boehner's plan "b" and said it wouldn't violate his pledge. here's what he told us earlier this week. listen. >> i think in fact, plan "b" is a good step to protecting tax cuts for everybody. >> if you look at current law, current law says as we all know, part of the fiscal cliff '01, '03 tax relief measures will expire on january 1st. at this point, everybody's taxes go up. we all know that.
CNN
Dec 29, 2012 5:00am PST
news is i don't think it many will have meaningful deficit reduction. i think this is just going to keep dragging on and on. >> in your book, you advocate for raising the capital gains tax, which could make wall street owe a lot more money than it does now. >> yes. right. >> that's discussed as part of a fiscal cliff deal, but many believe that will end up hurting the economy, giving a disincentive to invest money? was that just focused on the real wealthy? >> i hear that argument a lot. number one is, i'm really tired of our tax policy decisions. you know, everything, being made by what the market's going to do in the next quarter. this is about aberration of the tax code and grossly unfair. say they raise top tax rate to 39.6% for those making more than $500,000. that means a lot of small businesses will are paying that nearly 40% marginal tax rate where you have billionaire private equity funds paying 15, 20, even 24, depending where they put it. it's not an issue of penalizing investment income. it's an issue of penalizing labor, and those who make their income through wages.
NBC
Dec 24, 2012 7:00am EST
it to getting a deal, which included tax reform and deficit reduction. the talks fell aaparpaapart. >> how we get there god only knows. >> speaker boehner tried to pass an alternative bill that allowed tax rates to rise on those making a million dollars or more. >> they weren't taking that out on me. they were dealing with the perception that somebody might accuse them of raising taxes. >> reporter: before jetting off to hawaii, president obama was prepared to accept a smaller deal as long as it prevented taxes from going up on middle class americans and extended unemployment insurance. >> i expect democrats and republicans to get back to washington and have it pass both chambers, and i will immediately sign that legislation into law before january 1st of next year. >> reporter: but americans say the uncertainty in washington is casting a cloud over their holidays. >> they are responsible for the well-being of all americans, and right now they're more woern wored about politics. >> i would tell them to get off their butts, because most of us aren't making six-figure incomes and we need every
CNBC
Dec 24, 2012 12:00pm EST
of fiscal sustainability just isn't right. we can't run trillion dollar deficits for a year and expect to get away with that long term. so i think there is a trade-off here in terms of some penalty to growth next year. longer term there are benefits though and going into the year i think you just have to have maybe a little cash in the portfolio but be looking to put money to work in companies that are going to survive, good balance sheets and consistent profitability. stocks are cheap relative to bonds so i don't want to get too defensive here. >> you were with us at the top of the hour and made clear you were on hold until you see something about a fiscal cliff resolution of some kind. is there nothing you would buy between now and the end of the year? >> nothing. maybe some inverse etfs, bill, quite honestly. i want to see not just fiscal cliff resolution but i want to see q 1 earnings. i'm sorry. q 4 earnings. last quarter's earnings were not all that exciting. we really saw the european effect take hold in a lot of these companies really laboring and a lot have bounced back. i thi
CNN
Dec 27, 2012 1:00pm PST
't that much, especially when you consider the federal deficit is $16 trillion and climbing. to retire the debt, every single american would have to pay $50,000. but garcia says, you got to start somewhere. especially when washington won't. the partisan bickering has bothered him since -- >> 1992. >> reporter: that's when garcia first wrote his congressman, suggesting a formula to eliminate the death. the depression era kid and army veteran says he's giving back to a country that's given him so much. a sense that's infectious. his daughter is now collecting cabs at work. his grandson drives garcia to friends' houses, just to collect more cans. garcia knows that his monthly money orders won't avert the fiscal cliff, but his priest says that's not the message garcia's sending to congress. >> in order to really solve the $16 trillion national debt, you have to sacrifice. >> reporter: politicians talk about kicking the can down the road. one american has decided that road has to end, and it might as well be here. so if you want to be, like his granddaughter says, be like grandpa, you can google the
CNN
Dec 26, 2012 1:00pm PST
that getting the debt and deficit under control is in the interests of younger generations so they are not saddled with debt solely for our current consumption. but how we get there matters an awful lot. if you raise taxes on people at the top, that affects people mostly in their peak earning year, late 40s to their late 50s. if you focus the spending cuts on discretionary spending which is what we've done so far, you squeeze investment thes in the next generation. education, infrastructure, research. there really needs to be a balance both between taxes and spending and then on the spending side between restraining discretionary spending and restraining entitlements which are aimed at today's seniors. >> so many times we've heard talk about generational warfare between old and young. but this is a little bit different. >> right. first of all, there is no -- today there is generational warfare more in the opposite direction. the polls show that young people by and large are willing to pay for entitlements for today's seniors. what's eroded is the willingness of today's senior
NBC
Dec 31, 2012 7:00am EST
deficit reduction. democrats say that could come later, but this would be a smaller plan. there are really some serious differences and not a lot of time left. congress has created its own deadline to this so-called fiscal cliff and now has to live by it over the next several hours to see if something can get done. erica? >> kelly o'donnell, thank you. chuck todd is nbc's political director. kelly mentioned some constructive movement but then there's this chasm we keep hearing about. is there a chance for a deal? >> i think -- i want to say yes, there's a chance for a deal! they're not that far apart. it really depends on the political motivations of the people at the negotiating table. you think about joe biden and mitch mcconnell, mitch mcconnell is totally looking at this through a political lens, what is in the best interest of republicans in his view? from what i understand in his view he thinks what's in the best interest of the republican party is getting the tax issue off the table and then having a big knockdown, drag-down fight with the president in six weeks over the debt ceilin
Search Results 0 to 23 of about 24